ElectroRoute has entered into two long term power purchase agreements (PPAs) in Northern Ireland for the Evishagaran and Craiggore wind farms, which are being developed by ERG.
They will bring the total portfolio under management by ElectroRoute to approximately 1500MW.
The deals are the first on the island of Ireland whereby a trading entity is putting in place a long term PPA with a developer without any support from a government subsidy scheme.
These forms of market-based PPA are expected to have a significant role to play in ramping up the delivery of renewable energy projects across the island of Ireland and meeting ambitious renewable targets, said ElectroRoute.
The two wind farms have a total installed capacity of 70MW and estimated annual output of over 250 gigawatt hours.
Both projects will be operational by the end of 2021.
ElectroRoute will provide the physical trading and route to market services for the sites by ensuring access to the market.
ElectroRoute CEO Ronan Doherty said: “We are delighted to announce our first two PPAs with ERG which represent a major turning point for ElectroRoute as we invest in new solutions to support the global clean energy transition.
“Our vision is to make ‘net zero’ a reality and we are committed to supporting the decarbonisation of the energy sector on the island of Ireland.
“To this end, we recognise the importance of providing independent, long term and bankable PPAs to renewable and battery storage assets across all of our markets.
“We are targeting growth in this area with particular focus in Ireland, the UK, Spain and Italy.
“The potential market for renewable PPAs in Ireland is significant and growing and we aim to engage proactively with corporate buyers to ensure our solutions continue to evolve and support a clean energy future.”